Estate planning: Keeping documents safe from disaster

| Dec 10, 2018 | Estate Planning

With the numbers of disasters happening in the world today — fires, tsunamis, earthquakes, hurricanes and others — individuals may be thinking about how to make their important estate documents ready for a possible apocalypse. In the blink of an eye, life can change. Illinois residents may want to make sure than any estate planning they’ve done reflects unforeseen events. 

Individuals should have a plan for being able to access their estate planning documents should they find themselves in dire straits, where they are either forced out of their homes or lose their houses altogether. Storing all important information safely is a necessity and people should not rely on a computer to do so in case those files are lost. Writing down all passwords and account information and having documents stored properly is crucial. A safety deposit box might meet those needs. 

In any case, there is information one needs to save. Start with copies of legal documents like powers of attorney, wills, trusts, insurance policies and any deeds to property. Write down any passwords to important internet sites visited as well as account numbers of bank and credit card accounts. Contact information should also be written down for accountants, lawyer or any other advisors one may employ. Also, keep a copy of the most recent tax return and all medical information for each family member.

Life is not lived on a straight line. One never knows when circumstances might change. It’s crucial for Illinois residents to keep estate planning documents safe. Supplying copies of these legal documents to an attorney is an extra measure to ensure they will be available in case of an emergency.